New York-based startup Maxwell Health just raised $2 million to help employers set up affordable health and wellness plans.
It’s a particularly useful tool for entrepreneurs and small business owners, as Maxwell Health offers guidance on the various health insurance plans, financial benefits, spending accounts, life insurance, and payroll.
The company has a two-pronged approach, targeting both employers and employees. It has developed a dashboard for workers to view their personalized health plan, and take advantage of the various company benefits.
Meanwhile, employers can use the app and website to track overall spending, and introduce new incentives to promote the health and wellbeing of their employees. In this regard, it competes with a number of new corporate wellness startups, including Keas.
To stand out from the pack, Maxwell Health also offers a concierge-like service — it has staff on duty to answer any questions about health plans or benefits.
“Maxwell Health is a big-picture solution for companies wanting to eliminate the enormous burden of HR administration, reduce health care costs, and increase employee well-being,” said Veer Gidwaney, the company’s cofounder and CEO, in a statement.
The company bills itself as the “future of benefits,” as it also offers information on how the Affordable Care Act (ACA) will create more choice for employers — as well as regulation. Major new requirements under the ACA will go into effect in early 2014.
The company raised its funding from Tribeca Venture Partners, with participation from Lerer Ventures, Vaizra Investments, BoxGroup, and additional New York and Boston-based investors, including TiE Angels.